Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that pays 9.6% interest, compounded every 3 months. a. Find the amount of quarterly deposit. P b. Find the accumulated amount in the account after the 15th deposit. P

Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that pays 9.6% interest, compounded every 3 months. a. Find the amount of quarterly deposit. P b. Find the accumulated amount in the account after the 15th deposit. P

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 19PROB

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Question

Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that
pays 9.6% interest, compounded every 3 months.
a. Find the amount of quarterly deposit. |
b. Find the accumulated amount in the account after the 15th deposit. P

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